A Deficit Reduction Plan I Can Get Behind

Because it’s not really about deficit reduction. Anyway, instead of slashing benefits, cutting or holding constant science spending, and so on, the Congressional Progressive Causus has released its own deficit reduction plan (details in pdf):

balancingact

Of course, this will never pass (boldface mine):

Today, liberals in the House of Representatives will roll out a new plan to avert the sequester. It calls for more investment in job creation as a way to generate new revenues to bring down the deficit. It calls for a mix of new revenue increases and spending cuts — all focused on defense — that would bring the overall balance between revenues and cuts in the deficit reduction of the past two years into a one-to-one ratio.

Needless to say, this plan — the creation of the Congressional Progressive Caucus — has no chance whatsoever of passing Congress. Which is exactly the point: No plan that prioritizes job creation as the best means of reducing the deficit; no plan that cuts defense while determinedly avoiding any cuts that would hurt the poor and elderly; no plan that includes equivalent concessions by both sides — could ever have a prayer in today’s Washington. It’s yet another indication of how out of whack Washington’s priorities are…

That such a plan has no chance of passage is only the latest sign of just how marginalized this view — that we should prioritize investing in job creation first in order to bring down the deficit — has become.

Nevertheless, it’s important to get this out there; if nothing else, it pushes the discussion back towards the left. And if you are fortunate enough to have Democratic Congressmen or Senators, why not ask them if they support this? If not, why not? It’s a good bill.

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6 Responses to A Deficit Reduction Plan I Can Get Behind

  1. a2b2 says:

    I had definitely heard of some congresspeople talking about closing loopholes in the mainstream media (the partisan division of which loopholes to close would make a great post somewhere out there), but I don’t think the media has made it clear how big some of these loopholes are.

    You could drive 5 aircraft carriers through the loophole corporations are deducting for food and entertainment.

  2. Brady says:

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  5. I would probably NOT agree with cutting the military bands. In fact, we should add a few military symphony orchestras! Our soldiers (and sailors and airmen) need all the healing we can get them, and nothing heals quite like music! And of course, we should be closing all the high income loopholes and NOT cutting much of anything else unless it is proven to be completely wasteful (and I’m not sure even then!).. and of course, beautiful pink pigs with wings of gold will fly around and we will have pork in the trees for breakfast.

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